Asia Pacific is estimated to be the prominent region for the crown closures market.

Use of glass bottles for packaging of alcoholic beverages and carbonated soft drinks is estimated to boost the demand for crown closures in the Asia Pacific market.

High production of beer and sparkling wine in China and India is acting as the growth driver for the crown closures market.

Changing consumer perceptions among young demographics of urban areas, supported by rapidly growing spending power, will shape fast-paced growth of the Indian and Chinese crown closures market during the forecast period.

Top 3 Factors Shaping the Crown Closures Market

Surge in beverage packaging in developing regions, majorly driven by young urban consumers

The rapidly growing middle class and increased consumer spending on leisure and lifestyle enhancers are anticipated to be responsible factors to enhance packaging quality. The demand for crown closures and glass bottles is estimated to witness impressive growth in packaging applications of beer and other alcoholic beverages.

Developing countries of Asia Pacific and Latin America have seen rapid growth in the production of beer over the last decade. Asia Pacific and Latin America are expected to be highly attractive market places for global key players in terms of expansion.

PET (polyethylene terephthalate) bottles are estimated to rise in demand for packaging of soft drinks, which is expected to hamper the market of crown closures for soft drinks. PET bottles packaging is estimated to be beneficial in terms of weight and cost as compared to glass bottles. Key players in the non-alcoholic beverage industry are shifting towards PET bottles due to lower raw material and production costs than glass bottles.

High demand for anti-contaminating closures from the alcoholic beverage industry

Crown closures have significant applications in the beverage industry, especially alcoholic beverages. Anti-contamination plays a crucial role in protecting and increasing the shelf life of the packaged product. These are the key reasons for the extensive demand for crown closures from the alcoholic beverage industry.

In addition, crown closures are user-friendly and recyclable which further fuels the growth of crown closures in the market. The concerns about product safety, security, increasing per capita consumption in rising economies, and new caps for shelf visibility are the major factors driving the global crown closures market.

Crown Closures Market Structure Analysis

FMI has divided the global crown closures market into three tiers. Each Tier-1 player holds an individual market share of 3% or more in the global crown closures market, each Tier-2 market player holds a market share between 1% and 3%, and each Tier-3 market player holds market share below 1%.

The closure market is fragmented in the Asia Pacific region with around 300 market players operating only in China and 200 market players operating just in India.

North American and European markets for crown closures are consolidated owing to the presence of a minimum number of manufacturers with large production volume and customer base.

This report provides a forecast analysis of the global crown closures market. It provides historical data of 2013-2018 and forecast for 2019-2027 in terms of market revenue (US$ Mn) and volume (Mn Units).

Moreover, it also includes market dynamics including drivers, recent trends, restraints, and opportunities associated with the crown closures market. The report includes the study of market prospects for the manufacturers of crown closures and comprises of an exhaustive value chain analysis.

The report is compiled under different chapters, an overview of each chapter is given as follows:

Executive summary includes the gist of the report, highlighting key insights of the crown closures market including highlights on key market trends, global market analysis, opportunity assessment, and FMI recommendations.

The market introduction includes definition or scope of the global crown closures market coverage and market taxonomy.

Regional crown closures market pricing analysis section includes the weighted average selling price of crown closure products in each region. This section also includes the forecast for regional prices of crown closures by diameter. For the better understanding of factors impacting the forecast of crown closures prices, pricing break-up is also provided that includes a share of each pricing component in the total price of crown closures.

The next three sections include the global crown closures market analysis by diameter, material type, end use, and geography. Analysis frameworks included in the sections are segmental market attractiveness analysis, year-on-year (Y-o-Y) growth analysis, and change in market share analysis.

After the global market, trade data section is provided with trade value and volume of crown closures in each geographical region.

The next six sections include the regional crown closures market analysis for North America, Western Europe, Eastern Europe, Latin America, Asia Pacific, and Middle East & Africa (MEA). The analysis frameworks provided in these six sections are similar to those provided for the global market analysis.

PESTLE Analysis for top five countries is provided to understand the current market scenario and future opportunities.

The next section in the report is competition analysis which includes competition dashboard and competition benchmarking that offer comparative analysis among key crown closures market players. The competition deep dive for 15 key players in the global crown closures market is provided that includes company overview, product portfolio, sales footprint, strategy overview, and profitability by market segments.

At last, the assumptions and acronyms used section includes an overview of the basic assumptions considered for arriving at precise numbers of the crown closures market.

Research Methodology

This section includes a detailed description of robust methodology and approach to arrive at crown closures market size and related projections. The research methodology for this report is based on a 3-dimensional model. We conducted about 45–60 min duration detailed interviews with crown closures manufacturers, end-user companies, and other channel partners. Apart from this we also collect market feedback from industry experts.

To ascertain the crown closures market size in terms of value and volume, the revenue generated by key manufacturers in the crown closures market and their respective production capacity is taken into consideration. The forecast presented here assesses the total revenue generated by value, across the crown closures market.

In order to provide an accurate forecast, we initiated by sizing up the current crown closures market, which forms the basis of how the crown closures market is expected to develop in the future. Given the characteristics of the crown closures market, we triangulated the outcome on the basis of three different types of analysis- based on supply side, downstream industry demand, and the economic envelope.

Additionally, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR but also analyze the crown closures market based on key parameters, such as year-on-year (Y-o-Y) growth rates, to understand the predictability of the crown closures market and identify the right opportunities across the market.